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Concordia Maritime Says Tanker Market Turnaround Has Started

Condordia Maritime, yesterday, reported its third quarter and nine-month financial results.

· Total income
Q3: SEK 258.6 (197.7) million

· 9 months: SEK 685.2 (633.8) million

· EBITDA
Q3: SEK –18.0 (1.9) million
9 months: SEK –19.8 (41.2) million

· Result before tax
Q3: SEK –66.9 (–533.1) million
9 months: SEK –162.6 (–618.1) million

· Result per share after tax
Q3: SEK –1.40 (–11.17)
9 months: SEK –3.41 (–12.95)

Events in the third quarter
· Extended charter for P-MAX tanker Stena Provence and Stena Paris
· Another quarter without any lost time injuries.

Key ratios
· Total income, SEK million 685.2 (633.8.0)
· EBITDA, SEK million –20.3 (41.2)
· EBITDA, USD million –2.4 (4.8)
· Operating result, SEK million –158.3 (–591.7)
· Result excluding impairment and tax, SEK million –162.6 (–144.4)
· Result before tax, SEK million –162.6 (–618.1)
· Result after tax, SEK million –162.7 (–618.1)
· Equity ratio, % 40 (41)
· Return on equity, % –17 (–32)
· Available liquid funds, including unutilised credit facilities, SEK million 185.0 (442.2)
· Result per share after tax, SEK –3.41 (–12.95)
· Equity per share, SEK 22.24 (26.38)
· Lost-time injuries 0 (0)

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Source: Concordia Maritime

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